THE COMPANY: Egyptian Financial Group was established in 1984 as a consulting boutique that merged with Hermes Financial in 1996 to form EFG Hermes Holding. In 2007, the company acquired a stake in Bank Audi, a Lebanese commercial bank, mainly to smooth income fluctuations through an integrated banking model. The firm sold its stake in...
Egypt
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Articles & Analysis | Financial services from The Report: Egypt 2014
Articles & Analysis | Investment from The Report: Egypt 2014
THE COMPANY: Egypt Kuwait Holding (EKH) is one of the largest and fastest-growing direct investment companies in the Middle East, with total assets exceeding $2.1bn as of December 2013. The company is a handson, long-term investor seeking majority stakes and management control and has a strong record of successfully developing and...
Articles & Analysis | Encouraging firms to list will be central to the market’s new strategy from The Report: Egypt 2014
Economic uncertainties typically work against new listing activity, as the diminishment of Egypt’s initial public offering (IPO) stream over recent years clearly demonstrates. The global economic crisis had already had a negative effect on markets throughout the region, prompting global investors to retrench and domestic investors to sit on capital – and Egypt was no...
Articles & Analysis | Consumer goods from The Report: Egypt 2014
THE COMPANY: Oriental Weavers (OW) is one of the largest producers of machine-made woven and printed/tufted rugs in the world. In 2013 it produced 116m sq metres of carpets across 10 manufacturing facilities in Egypt, China and the US. With a combined 240 showrooms and wholesale outlets across Egypt, it enjoys a dominant position...
Articles & Analysis | Real estate from The Report: Egypt 2014
THE COMPANY: Sixth of October Development and Investment Company (SODIC) follows an integrated, low-risk, self-financed business model, focused mainly on the upper-middle-income class. Despite a smaller land bank than its competitors (Talaat Moustafa Group and Palm Hills Developments), SODIC manages to position itself among the biggest...
Interviews & Viewpoints | Hussein Choucri, Chairman and Managing Director, HC Securities & Investment, on fiscal reform and growth in Egypt from The Report: Egypt 2014
On July 10, 2014, President Abdel Fattah El Sisi signed the decree that approved Egypt's budget for the fiscal year 2014/15, reflecting his intention to reduce the national deficit from 14% to 10% of GDP. The president’s decision is a step in the right direction towards regaining stability. The government has set a total spending budget of LE790bn ($112.2bn), compared to...